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Tag: Basics

Posted on 12/09/2022
Planning a home remodel: Services & steps involved
If you’re planning a home remodel, services are available to assist you in planning the entire project. However, even with guidelines for what you’ll need, the process can seem overwhelming. Before you get started, here are some of the key things to consider when planning a major home improvement project: What is the goal of your home improvement...
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Posted on 11/26/2022
What is the mortgage, anyway?
For many, the concept of buying property seems completely unfamiliar - and paying for it might make you wonder, “what is ‘the mortgage,’ anyway?” If you’ve rented a house or apartment before, you’re familiar with monthly payments and extra fees for maintaining the property. But how is a mortgage different? To help you gain a better understanding of...
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Posted on 11/21/2022
Understanding the fixed rate mortgage definition
To choose the right mortgage loan, it’s important to understand the “fixed rate mortgage” definition. This type of loan has several advantages, including predictable monthly payments and long repayment terms. However, a fixed rate mortgage might not be right for everyone. Here is a quick guide to understanding this type of mortgage: Fixed-rate mortgages vs. adjustable-rate mortgages When...
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Posted on 10/06/2022
Mortgage prepayment penalty: What you need to know
Mortgage lenders make money primarily through interest payments, which means many loans come with a mortgage prepayment penalty. And while not impossible to prepay your mortgage, it’s important to understand prepayment penalties and how they work. How penalties vary by lender Some lenders charge prepayment penalties for paying out the loan balance in one payment. Penalties will differ...
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Posted on 08/29/2022
What is APR? Mortgage terms to know
When searching for a mortgage, many homeowners might wonder: “What is APR?” Mortgage loans have interest rates, but also other costs - this is where the annual percentage rate (APR) comes into play. But what exactly does APR mean, and why does it matter for mortgages? Here is a basic guide to help you understand this crucial aspect...
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